The crypto market witnessed a surge in its market cap in November, rising to $3.6 trillion. Bitcoin dominance dropped to 57% as altcoins rallied, suggesting a potential alt season is imminent.
stablecoin supply rose to a high of $133.4 billion in November, fueling the bull run. Bitcoin , Ethereum and XRP saw a significant price increase in November following a surge in the general crypto market capitalization, which rosefrom $2.5 trillion to $3.6trillion in November.
daily chart A majority of Bitcoin's price movement was fueled by inflows in spot BTC exchange-traded funds which recorded $6.4 billion net inflows in the month, per Farside investors data. The majority of the inflows came from asset manager BlackRock's IBIT, adding over $5 billion worth of assets in the month. The crypto market grew to an incredible market cap of nearly $3.6 trillion in the month from $2.5 trillion in October.
stablecoin supply, which rose over 11% to hit a high of nearly $133.4 billion in November. An increase in stablecoin supply suggests that new money is coming into the market to fuel real spot demand. Market Capitalization | CoinGecko Top altcoins Ethereum, Ripple and Solana noted major gains in November with Ripple's XRP leading the way. XRP staged an impressive 400% rally in the month, sending its market capitalization to a staggering $155 billion and flipping Solana and Tether to hold the third position among the largest crypto assets.